European P&C insurers face deteriorating CR in 2019
European Property & Casualty insurers will likely experience a modest deterioration in combined ratios and investment returns in 2019.
CNA Hardy’s post-Brexit structure approved
CNA Hardy is the latest carrier this week to be given the green light for its Part VII transfer by the High Court of England and Wales.
Brexit – continuing to be heard
London market lobbying group LMG says there is much work to be done ahead of “Brexit” regardless of what occurs in Westminster next week
Allianz shares dip as CEO eyes M&A
Shares in European Insurance heavyweight Allianz dipped today as investors contemplated an increased chance of a large-scale M&A deal.
Danish insurer Qudos enters liquidation as M&A dispute gears up
New Nordic suing former owners Echelon for Eur 45.8mn following failure of settlement talks.
Lloyd’s appoints Christian Noyer to Council and Brussels’ board
Former French central bank governor Christian Noyer has been appointed non-executive director of the Lloyd’s Council, and independent non-executive director of Lloyd’s Brussels’ with effect from 2 November.
Generali shares rise on new strategic plan
Italian insurance heavyweight Generali has pledged to pay higher dividends while unveiling a plan today to extend its global reach into the higher-growth markets of Asia and Latin America.
Scor launches Paris-based European insurer to mitigate Brexit fallout
Reinsurance powerhouse Scor has launched Scor Europe SE, a Paris-based P&C specialty insurance company designed to mitigate any business fallout following the UK’s departure from the European Union.
Arch names Sturgess international insurance CEO
Arch has named Hugh Sturgess as CEO of Arch Insurance International, effective 1 January 2019, succeeding Matt Shulman, who was recently named CEO of Arch Insurance North America.
Mapfre invests $28.5mn in Madrid-based tech venture fund
Spanish (re)insurer Mapfre is to invest EUR25mn ($28.5mn) in Madrid-based B2B tech venture fund Alma Mundi Insurtech Fund.
High Court approves TME’s Part VII transfer
The High Court of England & Wales has approved the so-called Part VII process for Lloyd’s insurer Tokio Marine Kiln (TMK) to transfer its portfolio of Continental European liabilities to its new Luxembourg subsidiary, Tokio Marine Europe SA (TME).
It’s a (draft) deal! But what does it mean…?
Confused by EU-UK developments last week? Chris Bryant, Bryan Cave Leighton Paisner, explains what the draft deal means for London market insurers writing EU business…
Lloyd’s: Europe is a growth market despite Brexit
Despite the UK’s fast-approaching exit from the European Union, Lloyd’s chairman Bruce Carnegie-Brown says the market is targeting future growth in the European Economic Area higher than the industry average.
Scor confirms belated resignation of Covea‘s Derez
Scor has won another round in in its fight for independence with news today that non-executive director Thierry Derez has resigned from the reinsurer’s Board.
Markel Insurance SE receives regulatory green light on UK sub
Richmond-headquartered Markel has announced its German insurance company Markel Insurance SE has received regulatory approval to operate a branch within the UK.
German reinsurance heavyweights predict ILS slowdown
There is growing speculation that the seemingly unstoppable rise of the ILS market – estimated by Aon Benfield to be at $98bn at mid-year – will slow down at 1.1 or possibly even shrink marginally.
Allianz sees third quarter profit climb 21 percent
Europe’s second largest insurer Allianz saw third-quarter operating profit surge 20.6 percent year-on-year, thanks largely to increased earnings in its P&C business, and has confirmed it remains on track to reach its 2018 profit target.
Generali reports nine-month profit despite EUR305mn cat bill
Italian carrier Generali reported an increase in operating profit in the first nine-months of the year which edged up 3.9 percent to hit EUR3.6bn.
Mapfre nine-month profit jumps 19 percent despite shrinking premium
Spanish (re)insurer Mapfre has reported EUR 528.8mn ($604.8mn) net earnings for the first nine-months of the year – an increase of 18.9 percent from the same period in 2017.
Hannover Re posts 97 percent CR despite EUR271mn cat losses
Hannover Re has posted a combined ratio of 96.8 percent for the third quarter despite the flurry of cat losses which cost the German reinsurer EUR271mn.